Consumers won't stop spending, whetting the RBA's appetite for rate rises
Aussies are drinking, dining and spending like it’s last call but the RBA may soon pour a hangover-inducing rate rise.
A divide is emerging between those experiencing a cost of living crisis and those driving consumer spending ever upwards. (Image source: Kirayonak Yuliya/Shutterstock.com)
It might cost more than $17 for a pint at your local but Aussies continue to spend like drunken sailors – and it might come back to bite them in the ‘bankside’.
In the past two years prices have risen by almost 10 per cent across the board but despite wage increases falling comfortably short of that, Australians are heading into this Christmas on a spending blitz that will likely culminate in the Reserve Bank of Australia (RBA) lifting rates in …
